Federated Hermes Inc. Purchases New Shares in Cincinnati Financial Co. (NASDAQ:CINF)

Federated Hermes Inc. bought a new position in Cincinnati Financial Co. (NASDAQ:CINF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 757 shares of the insurance provider’s stock, valued at approximately $89,000.

Several other institutional investors have also made changes to their positions in CINF. Assetmark Inc. raised its holdings in shares of Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new position in Cincinnati Financial during the second quarter valued at about $29,000. Raleigh Capital Management Inc. bought a new stake in shares of Cincinnati Financial during the 4th quarter worth about $31,000. Future Financial Wealth Managment LLC acquired a new position in shares of Cincinnati Financial during the 1st quarter valued at about $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Cincinnati Financial in the 2nd quarter worth approximately $49,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Down 0.7 %

NASDAQ CINF opened at $135.22 on Thursday. Cincinnati Financial Co. has a 1-year low of $96.86 and a 1-year high of $139.34. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.65 and a beta of 0.66. The stock’s 50 day moving average is $131.13 and its two-hundred day moving average is $122.57. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. Equities analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.40%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

Analysts Set New Price Targets

CINF has been the subject of a number of analyst reports. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Roth Mkm increased their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Bank of America cut their target price on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.57.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.